Stock exchange rises with declarations of positive Q1 results

AMMAN — The Amman Stock Exchange (ASE) index neared 1,800 points on Sunday following a 0.24-percent rise, prompted by gains for mining and industry shares like the Jordan Petroleum Refinery Company (JPRC), corresponding to positive performance results in the first quarter of 2021.اضافة اعلان

Total trading on Sunday amounted to JD6.5 million, with 5.8 million shares traded through 3,338 transactions.

The grace period granted to companies to disclose their first quarter financial data to ASE for review by the market’s auditor, which ended on the first workday in May, in line with Article 15 of the 2018 instructions for logging financial papers, seeking to enhance the protections of dealers and investors in the securities market, and provide them with the necessary information in a timely manner, which enables decision making on investment.

The share of the Arab Potash Company (APC) rose to its highest permitted levels, reaching a price of JD23.83 per share, with the company achieving notable performance in the first quarter, despite the state of uncertainty dominating global fertilizer markets, due to the ongoing pandemic and the emergence of new COVID-19 variants around the world.

According to financial data issued by the APC, the company’s consolidated net profists after tax, appropriations and mining fees for the first three months of 2021, increased by 58 percent, reaching JD40 million, compared to JD26 million during the same period of 2020.

Meanwhile, the share price of the Jordan Phosphate Mines Company rose to their highest permitted trading levels, closing at a price of JD9.84 per share.

Corresponding to the JPRC’s announcement of JD20.1-million profits in the first quarter of 2021, according to preliminary financial statements issued by the company, the company’s share saw positive responses and strong demand at the ASE, closing at the highest permitted trading levels, with a share price of JD3.04.

The JPRC noted that profits from refining oil and filling gas cylinders amounted to JD12.9 million, while those achieved from the oil factory reached JD1.6 million. Some JD5.6 million were collected from JOPETROL, the company’s marketing arm, fully owned by JPRC.

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